v3.25.4
Revenue
 3 Months Ended
Aug. 02, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Revenue from sales of the Company's products and services is recognized either at the point in time when control of the products is transferred to its customers or over time as services are provided in an amount that reflects the consideration the Company expects to be entitled to in exchange for the products or services.
See Note 2. Basis of Presentation and Summary of Significant Accounting Policies for additional information related to the Company's revenue recognition policies.
Disaggregation of Revenue
The following table disaggregates the revenue associated with the Company's major product and service offerings:
13 weeks ended
August 2, 2025July 27, 2024
Product and Other Sales
Course Materials Product Sales $157,598 $131,429 
General Merchandise Product Sales (a)
97,710 98,039 
Service and Other Revenue (b)
18,871 21,458 
Product and Other Sales sub-total274,179 250,926 
Course Materials Rental Income13,981 12,505 
Total Sales$288,160 $263,431 
(a)Logo general merchandise sales are recognized on a net basis as commission revenue in the condensed consolidated financial statements.
(b)Service and other revenue primarily relates to brand partnership marketing and other service revenues.
Contract Assets and Contract Liabilities
Contract assets represent the sale of goods or services to a customer before the Company has the right to obtain consideration from the customer. Contract assets consist of unbilled amounts at the reporting date and are transferred to accounts receivable when the rights become unconditional. Contract assets (unbilled receivables) were $0.3 million and $0.6 million for August 2, 2025 and May 3, 2025, respectively, on the Company's condensed Consolidated Balance Sheets.
Contract liabilities represent an obligation to transfer goods or services to a customer for which the Company has received consideration and consists of its deferred revenue liability (deferred revenue). Deferred revenue consists of the following:
•advanced payments from customers related to textbook rental performance obligations, which are recognized ratably over the terms of the related rental period;
•unsatisfied performance obligations associated with partnership marketing services, which are recognized when the contracted services are provided to the Company's partnership marketing customers; and
•unsatisfied performance obligations associated with the premium paid for the sale of treasury shares, which are expected to be recognized over the term of the merchandising contracts for Fanatics and Lids, as discussed in Note 6. Equity - Sale of Treasury Shares.

The following table presents changes in deferred revenue associated with the Company's contract liabilities:

As of
August 2, 2025May 3, 2025
Deferred revenue at the beginning of period$13,565 $14,892 
Additions to deferred revenue during the period20,721 180,174 
Reductions to deferred revenue for revenue recognized during the period(18,824)(181,501)
Deferred revenue balance at the end of period:$15,462 $13,565 
Balance Sheet classification:
Accrued liabilities$12,402 $10,410 
Other long-term liabilities3,060 3,155 
Deferred revenue balance at the end of period
$15,462 $13,565